- Joined
- Jul 5, 2016
- Messages
- 9
Rep Bank
$65
$65
User Power: 44%
How do I know the right PATH to go down in my Entrepreneurship journey? I am in my mid 20's and working a "comfortable" work-from-home corporate IT job making six-figures. But, I despise working for other people and want to make a complete shift to entrepreneurship.
However, there are so many options, how do I know where to focus my efforts?
Here are the factors that are important to me in choosing a business:
1) High potential to have passivity in income
2) High earning potential (potential of $500k + per year)
3) Relatively low start up costs (ie. a business I can launch from my home)
I'm also open to hearing new ideas that I may not yet have considered. Would love to get any thoughts:
The options I have narrowed myself down to are below.
1) Independent Salesforce.com (IT/CRM) consulting
Pros:
- I am already an expert in Salesforce implementations (with my current job) and could get started pretty quickly and start making $60-75 per hour.
Cons:
- My current employer wouldn't be too happy and I would likely need to leave my (comfortable/work-from-home) job
- Earning potential probably caps at $200 - $250k per year
- Passivity potential low
2) Make an App
Pros:
- Earning potential high
- Passivity potential high
Cons:
- No experience building or launching an app
- Hit or miss: my perception is that the only way to make money is to make a really really popular app like an Uber or a Tinder. There is no "in-between".
3) Launch a brand (ex. supplements brand)
Pros:
- I have a unique idea around this that could really take off for a niche market that has not yet been touched
- Passivity potential high
Cons:
- Lacking knowledge into this industry
- Earning potential unknown
4) Daytrading / Trading Pennystocks
- High risk/high reward as far as earning potential goes
Cons:
- Lacking knowledge into this industry
- Do "regular" people even make money doing this? Are all the Timothy Sykes of the world frauds?
5) Real Estate Investing (rental properties, flipping homes)
Pros:
- Passivity potential high
- High earning Potential?
Cons:
- Little/no knowledge of industry
- Start up costs high
However, there are so many options, how do I know where to focus my efforts?
Here are the factors that are important to me in choosing a business:
1) High potential to have passivity in income
2) High earning potential (potential of $500k + per year)
3) Relatively low start up costs (ie. a business I can launch from my home)
I'm also open to hearing new ideas that I may not yet have considered. Would love to get any thoughts:
The options I have narrowed myself down to are below.
1) Independent Salesforce.com (IT/CRM) consulting
Pros:
- I am already an expert in Salesforce implementations (with my current job) and could get started pretty quickly and start making $60-75 per hour.
Cons:
- My current employer wouldn't be too happy and I would likely need to leave my (comfortable/work-from-home) job
- Earning potential probably caps at $200 - $250k per year
- Passivity potential low
2) Make an App
Pros:
- Earning potential high
- Passivity potential high
Cons:
- No experience building or launching an app
- Hit or miss: my perception is that the only way to make money is to make a really really popular app like an Uber or a Tinder. There is no "in-between".
3) Launch a brand (ex. supplements brand)
Pros:
- I have a unique idea around this that could really take off for a niche market that has not yet been touched
- Passivity potential high
Cons:
- Lacking knowledge into this industry
- Earning potential unknown
4) Daytrading / Trading Pennystocks
- High risk/high reward as far as earning potential goes
Cons:
- Lacking knowledge into this industry
- Do "regular" people even make money doing this? Are all the Timothy Sykes of the world frauds?
5) Real Estate Investing (rental properties, flipping homes)
Pros:
- Passivity potential high
- High earning Potential?
Cons:
- Little/no knowledge of industry
- Start up costs high
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
